5 Business Ideas That Won’t Break the Bank

hand-895588_1920Starting a business is not the easiest feat because there are a lot of factors that require action.  Such elements need money on top and without it, a business simply cannot push through—or so we thought. There’s a reason why there are small-time entrepreneurs, and that’s because they continually find creative ways to gain profit with little to no cost. Many of businesses start out small and have paved a way to become bigger in time. And how did they do this?

A tight budget should not be a deterrent to create a business of your own. To give you an idea on where to start, here are five low-cost ideas that will keep your entrepreneurial drive running.

Personal concierge

For many people, there’s too little time to get things done all in one day, which makes personal concierge services a huge hit for those who want to earn on a budget capital. According to a study made by the International Concierge and Lifestyle Management Association, there’s a significant growth of profits in small start-up concierge businesses today. Although it’s a fairly new industry, the demand for concierge services just keeps skyrocketing.

Skills training for a cause

Starting a business is much more fulfilling when done with a purpose, which makes an employment and skills training business an excellent low-cost idea. A bakery or small diner will not only gain profit from its customers, but will also provide job training to underemployed groups, which could include out-of-school youth or drug addicts who want to change. To ensure workplace and customer safety, it is important to

Online content creation

Thanks to the growing industry of freelancing, it’s much easier for artists and writers to earn from creating content for the media and online businesses. The social media era has risen the demand for high quality online content worth sharing, and it takes talented and professional creatives to meet this.

Consultancy services

For entrepreneurs who have been through changing careers during their work life, being a paid consultant may be a great idea for a business. With their experiences and skillsets in a specific career or two, they meet the demands of different industries and gain profit. If you are knowledgeable with different state drug regulations, starting a cannabis licensing consultancy will be a hit for start-up businesses that need help in obtaining their licenses and approvals. Some states require a marijuana drug test in companies, and many businesses may not know about that.

Online retailer

These days, commerce is mostly made online, which makes the online retailing business an excellent business idea. With just a few hundred bucks as capital, you can already set up your own online store with the help of many reputable e-commerce platforms available these days. Decide on what products and offerings you want to sell, which could be based on your personal interests.

There are a lot of ways to earn money without hurting your wallet. Aside from determining where the demand is, anyone can be an entrepreneur with the help of a little creativity and lots of passion.

How To Stay Financially Alright When Unemployment Strikes

no-money-2070384_640Unemployment is not usually something you saw coming your way. Even if you did, you might not have suspected just how drastic of a problem your finances can become in such a short period of time. Whether you saw a change in jobs in your near future or not, you need to avoid the mistake of assuming that your financial obligations have time to wait. Getting back into the work force full time, and then finally getting that first paycheck, may take a little longer than you think.

File For Unemployment

Finding suitable work might take a little longer than you had hoped and you do not want all of your utilities shut off in the meantime. Therefore, you want to immediately file for assistance, like those in Texas will file for Texas unemployment. Even though the amount of your unemployment benefits will be less than you normally received through paychecks, it can still be enough to pay your essential financial obligations, especially when you make use of the rest of the advice found here.

Create A Budget

You need to sit down at the table with your significant other and write a list of all of your monthly expenses. It is very important for you to put a lot of time in this so you are remembering anything and everything you spend money on each month, right down to the television streaming accounts. The next thing you will want to do is to cross off all of the things that you can do without for a little while. Remember that this is just temporary so you can go back to such luxuries once your financial situation is a little better.

At the end of the day, you need to cover things such as your rent or mortgage, your utilities, and groceries for the family. If you have a car payment, you might want to consider selling the vehicle if you have another fully paid for vehicle that you can use while you look for work. After doing that, call your utility companies to ask about budget plans or other types of assistance they could possibly help you with. You may qualify for LIHEAP, which will help make your utilities more affordable until you are back to wok. You could also contact your mortgage company to ask about a forbearance or a loan modification that can help you postpone or lower your monthly payments.

Look To Charity For Assistance

There are many different types of helpful assistance that can be received from local charities. There are small charities, usually ran by various churches, that will help provide you with clothing. Some may have income limits to qualify, while many do not. You simply go and take what you need, or whatever they can offer you. This can help you find appropriate clothing for upcoming interviews. It can also help to make sure that your children have some replacement clothing as they quickly grow out of what they already have.

Another important charity program you will want to consider looking into is your local food bank. By getting some help from the local food bank every month, you will not have to spend as much of your unemployment check on groceries. Simply locate your local food bank so you can sign up and start getting help soon.

With a little planning, budgeting, and dedication to making it work, you should find that you and your family can financially stay afloat while you continue to look for a suitable replacement for your old job.

Advantages and Disadvantages of Buying a Franchise

t-shirt-2351761_640Are you considering buying a franchise? See below for an outline of the pros and cons that you should be aware of before buying into this type of business structure.


Owning a franchise can be a lucrative and supportive environment to operate a business within. For the less experienced entrepreneur in particular, owning a franchise will mean access to the support of the franchisor and ultimately a lower level of risk when you are initially getting your business up and running. On paper, this translates to a lower than average failure rate and ability to draw on the networks and brand strength already established by the chain itself.

Be on the lookout for a franchisor that has a realistic business model and doesn’t try to oversell the viability of investment. To do so, arm yourself with information about the industry you are entering into, including doing your own research on the location, online presence and potential competitors that you’ll come up against. Also, carefully read the information provided by the franchisor, especially any annual reports and prospectus’ that detail strategic plans, annual revenue and risk assessments of your chosen industry.

The support from a well-run franchisor will also include training options, both at the beginning of your business ownership as well as ongoing learning and development opportunities. The ability to gain advice for your franchise’s specific situation is also valuable, particularly as you troubleshoot issues after you’ve assumed operation of the enterprise, so confirm that the franchisor provides this and how accessible it is.

Exclusivity is another advantage of buying into a franchise so you can operate in a specific area knowing that an identical franchise sharing your branding and trademarks will not be permitted to open. This can provide a higher degree of accuracy when identifying potential customers and calculating the impact of wider advertising campaigns undertaken by the franchisor themselves.

Financing the purchase of a franchise can also be much more straightforward than for a start-up and many banks look favourably on the established revenue and business model that a recognised franchisor provides you as the franchisee.


However, all the support and branding that you buy into when taking on a franchise does come at a price. For many, the main disadvantage of owning a franchise is the fees and ongoing charges that you’re subject to. Be aware that on top of normal business expenses such as wages, consumables, assets and rent etc. there will be, at a minimum, an initial fee to acquire the franchise as well as contractual obligations such as fixed suppliers or royalties, advertising and management fees. Unfortunately, some of these will still have to be paid even if you’re not making a profit, so it’s imperative to be very clear upfront regarding the costs that you will incur and how they will be calculated. Will they be fixed costs or a percentage of your sales?

Some of the above mentioned benefits will also cost money to access, such as training. So be sure to factor this into your business plan also once you establish the terms and conditions of your franchise agreement.

Another factor to be mindful of is the constraints that the franchisor may apply to your business. For example, you may have identified demand in the local area for an additional service or product that will suit the demographic but find that the franchisor will not permit it under their management rules.

Although franchising is typically seen as an effective approach to business growth, the franchisor may have a negative effect on your business should the relationship not be clear or they fall into mismanagement or breach of contract.  In this instance, prior to signing, ensure that you thoroughly understand your franchise agreement or hire someone to do this on your behalf. Furthermore, as the market and therefore business conditions evolve over time, ideally there should be adequate dispute resolution provisions in place, should the need arise. These could include the willingness of parties to enter into negotiation processes (as versus litigation) and an articulated grievance procedure that parties adhere to. In some instances, the franchisor may choose to litigate in order to establish a precedent that extends to multiple franchisees throughout their network. Therefore, having an understanding on your behalf as to how you will proceed if faced with this scenario (i.e. at the very least having knowledgeable legal services that you can call upon) will allow you to proactively approach dispute resolution in the most effective manner.

Getting Out of Debt on a Limited Budget with United Debt Counselors

Getting out of debt can seem like an impossible proposition. The idea of consolidating, saving, and eventually paying off each and every loan in full can be totally overwhelming for people who can barely manage to save money from week to week.

United Debt Counselors (“UDC”) may be able to help. No matter how limited a person’s budget might be, UDC is devoted to figuring out a working payment plan designed around each client’s specific needs. No one should have to put their life on hold just to try and get a handle on debt. Here are a few ways to set aside loan repayment money and work toward financial goals with UDC.

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